SBA BREAKING NEWS EIDL Grant $10,000 GONE! Now What? [UPDATE] 4K

Описание: Now that the EIDL grant is gone? What options do businesses have? How are they going to survive this nationwide pandemic? This and so much more in today’s video. Make sure you stay to the very end to learn about the LARGEST 0% Loan in The History of Lending!

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#EIDL #StimulusPackage #Over

The SBA has shut down the $10,000 EIDL grant program. It may be reopened if Congress authorizes an emergency reauthorization of funds, but . . . honestly, I do not see that happening. Instead, I think Congress will hold out until the next Stimulus package.

The Federal Reserve Bank of Boston was tasked with operating the MSLP program, and they are offering low-interest loans of up to $300 MILLION. Yes, you heard me right 300 million dollars. Of course, honestly, probably no one watching this video would qualify for that large of a loan, but I think a lot of you would be eligible for the $250k minimum loan.

One thing to note, the terms of MSLP are not as favorable as EIDL, but they still worth investing in. Both the MSLP and EIDL have similar interest rates; the big difference is a 30-year term with EIDL and only 5-year with MSLP.

Have less than 15,000 employees and less than $5 billion in annual revenue. Yes, those are the only two main requirements, and I am pretty sure everyone here meets those requirements.

There are three different programs under the MSLP, but only two apply for most of you. Under these sub-programs, you can either borrow 4x or 6x your EBITDA (that is your Earnings before interest, taxes, depreciation, and amortization). Check out my short video on how to calculate your EBITA.

The three programs are called the New Loan Facility, Priority Loan Facility, and Expanded Loan Facility, each has a term of 5 years with principal deferred for two years, and no interest the first year.

With these in mind, you must have made an absolute minimum of $42,000 in profit last year to qualify for the 6x EBITDA loan.

A significant part about this program is you can refinance high-interest, short-term loans under this program. So, if your business was forced to borrow money to weather this pandemic, you should be able to get those high-interest loans paid off with a much lower interest MSLP loan.


⚠️ ⚠️ ⚖️⚖️ I am not a lawyer, CPA, tax advisor, realtor, financial advisor, etc., I have absolutely no licenses/certifications in anything related to these industries, I am just a dude on the internet. So, in full disclosure: the information I provide here is for “entertainment purposes only!” You should seek counsel from competent and certified individuals if you have questions. I may receive commissions when you use my affiliate links. sba disaster loan application eidl loan approved eidl loan status eidl advance eidl loan approved now what eidl update